Tests - Ty Changing compounding frequency Using annual, semiannual, and quarterly compounding periods. (1) calculate the future value if $7,000 is deposited initially at 9% annual interest for 7 years, and (2) determine the effective annual rato (EAR) Annual Compounding (1) The future value, FV, is $ 12796 27 (Round to the nearest cent) (2) # the 9% annual nominal rate is compounded annually, the EAR is % (Round to two decimal places.) Semiannual Compounding (1) The future value, FV, s $(Round to the nearest cont.) (2) If the 9% annual nominal rate is compounded semiannually, the EAR is % (Round to two decimal places) Quarterly Compounding e i7200 sktop (1) The future value, FV, s. (Round to the nearest cent.) (2) W the 9% annual nominal rate is compounded quarterly, the EAR IS 0% (Round to two decimal places.) itor) Intel bory/iTB lui